Florida Atlantic University Foundation Inc
- Assets
- $393.4m
- Revenue
- $44.2m
- Investments
- $100.6m
- Employees
- 0
- Location
- Boca Raton, FL
- Founding
- 04/1962
- Data as of
- 06/2021
- EIN
- 59-0917284
Organization Overview
Florida Atlantic University Foundation Inc is located in Boca Raton, FL. The organization was established in 1962. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida Atlantic University Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Florida Atlantic University Foundation Inc generated $44.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $22.2m during the year ending 06/2021. While expenses have increased by 2.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Florida Atlantic University Foundation Inc has awarded 64 individual grants totaling $71,948,131. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT FLORIDA ATLANTIC UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED GENERAL SUPPORT TO THE FLORIDA ATLANTIC UNIVERSITY IN THE FORM OF PAYMENTS SUCH AS BUT NOT LIMITED TO GUEST LECTURERS, OPERATIONAL AND CONFERENCE EXPENSES, TRAVEL, CONSULTING, AND EVENTS.
PROVIDED 1,728 STUDENTS WITH SCHOLARSHIPS FROM DONATED GIFTS.
PROVIDED SUPPORT FOR THE SALARIES OF THE UNIVERSITY'S EMINENT SCHOLARS, PROFESSORS, AND OTHER FACULTY AND STAFF.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Schmidt Board Chair | OfficerTrustee | 2 | $0 |
Brian Poulin Vice Chair And Treasurer | OfficerTrustee | 2 | $0 |
Phyllis Gladstein Secretary | OfficerTrustee | 2 | $0 |
Stewart Martin Immediate Past Chair | OfficerTrustee | 2 | $0 |
Sue Skemp Donor Relations Committee Chair | OfficerTrustee | 2 | $0 |
Ed Ventrice Philanthropy Chair | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fund Evaluation Group Investment Advisory Service | 6/29/21 | $272,163 |
Carey Cynthia Wagner Consultant | 6/29/21 | $100,640 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $78,001 |
| Fundraising events | $195,837 |
| Related organizations | $0 |
| Government grants | $1,479,050 |
| All other contributions, gifts, grants, and similar amounts not included above | $33,933,355 |
| Noncash contributions included in lines 1a–1f | $485,824 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,686,243 |
| Total Program Service Revenue | $263,948 |
| Investment income | $1,030,179 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $67,097 |
| Net Rental Income | $1,070,558 |
| Net Gain/Loss on Asset Sales | $6,368,100 |
| Net Income from Fundraising Events | -$327,644 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $44,215,838 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,751,127 |
| Grants and other assistance to domestic individuals. | $82,275 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $728,719 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,891,335 |
| Pension plan accruals and contributions | $484,855 |
| Other employee benefits | $267,687 |
| Payroll taxes | $353,434 |
| Fees for services: Management | $114,221 |
| Fees for services: Legal | $1,000 |
| Fees for services: Accounting | $72,943 |
| Fees for services: Lobbying | $247,640 |
| Fees for services: Fundraising | $91,200 |
| Fees for services: Investment Management | $913,423 |
| Fees for services: Other | $2,146,643 |
| Advertising and promotion | $167,765 |
| Office expenses | $916,543 |
| Information technology | $456,825 |
| Royalties | -$48,166 |
| Occupancy | $728,230 |
| Travel | $98,833 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $61,258 |
| Interest | $239,975 |
| Payments to affiliates | $919,026 |
| Depreciation, depletion, and amortization | $756 |
| Insurance | $52,817 |
| All other expenses | $0 |
| Total functional expenses | $22,247,742 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,681,734 |
| Savings and temporary cash investments | $41,529,086 |
| Pledges and grants receivable | $23,782,205 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $205,219 |
| Net Land, buildings, and equipment | $4,440,768 |
| Investments—publicly traded securities | $193,554,149 |
| Investments—other securities | $100,631,851 |
| Investments—program-related | $5,028,000 |
| Intangible assets | $0 |
| Other assets | $18,567,410 |
| Total assets | $393,420,422 |
| Accounts payable and accrued expenses | $875,586 |
| Grants payable | $0 |
| Deferred revenue | $1,506,633 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $33,642 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,736,810 |
| Total liabilities | $8,152,671 |
| Net assets without donor restrictions | $40,451,910 |
| Net assets with donor restrictions | $344,815,841 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $393,420,422 |
Grants Awarded
Over the last fiscal year, Florida Atlantic University Foundation Inc has awarded $10,679,771 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
FLORIDA ATLANTIC UNIVERSITY PURPOSE: STUDENT SCHOLARSHIPS | $10,249,660 |
Tallahassee, FL PURPOSE: STUDENT SCHOLARSHIPS | $251,153 |
Fort Lauderdale, FL PURPOSE: STUDENT SCHOLARSHIPS | $48,958 |
OREGON STATE UNIVERSITY PURPOSE: STUDENT SCHOLARSHIPS | $32,500 |
La Jolla, CA PURPOSE: STUDENT SCHOLARSHIPS | $32,500 |
Ann Arbor, MI PURPOSE: STUDENT SCHOLARSHIPS | $32,500 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Florida Atlantic University Foundation Inc has recieved totaling $751,000.
| Awarding Organization | Amount |
|---|---|
Bartley J Madden Foundation Naples, FL PURPOSE: RESTRICTED | $750,000 |
Stricof Family Foundation Ann Arbor, MI PURPOSE: EDUCATION FOUNDATION | $1,000 |
Endowment Analysis
| Beg. Balance | $294,935,557 |
| Earnings | -$24,640,344 |
| Admin Expense | $5,210,465 |
| Net Contributions | $5,440,015 |
| Other Expense | $9,708,686 |
| Grants | $2,688,683 |
| Ending Balance | $258,127,394 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Seminole Boosters Inc Tallahassee, FL | $240,991,921 | $48,392,781 |
University Of Florida Research Foundation Inc Gainesville, FL | $131,218,099 | $46,757,527 |
University Of Central Florida Foundation Inc Orlando, FL | $396,904,531 | $45,984,866 |
Florida International University Foundation Inc Miami, FL | $475,743,772 | $154,605,877 |
Shorter University Inc Rome, GA | $57,209,537 | $39,807,545 |
Kennesaw State University Foundation Inc Kennesaw, GA | $537,455,993 | $85,548,111 |
University Of South Alabama Foundation Mobile, AL | $392,021,424 | $13,140,864 |
Seminole County Coalition For School Readiness Inc Longwood, FL | $3,997,009 | $35,020,709 |
Georgia State University Foundation Inc Atlanta, GA | $466,073,205 | $89,649,877 |
Florida Atlantic University Foundation Inc Boca Raton, FL | $393,420,422 | $44,215,838 |
St Petersburg College Foundation Inc Saint Petersburg, FL | $84,259,588 | $9,116,029 |
Florida Gulf Coast University Foundation Inc Fort Myers, FL | $164,718,359 | $25,895,312 |